Hong Kong's Securities and Futures Commission (SFC) has issued a warning against cryptocurrency exchange MEXC, which it claims is unlicensed. The SFC argued that MEXC was actively promoting its services to Hong Kong investors without the necessary licensing.
This warning comes after SFC recently added Bybit to its warning list.
According to the official statement, MEXC has neither been licensed by the SFC nor applied for a license from the SFC to operate a virtual asset trading platform in Hong Kong, despite its active promotion of services to Hong Kong investors.
On the other hand, Bybit was the subject of such a warning yesterday, even though it was in the application process to obtain a license from Hong Kong, which is autonomously governed by mainland China.
While the bullish effect continues to be felt in Bitcoin and the general cryptocurrency market, the pressure on crypto exchanges around the world seems to continue. In another development today, we reported that Binance, the world's largest cryptocurrency exchange, had to impose stricter rules on token listings due to regulatory pressures.
*This is not investment advice.